PZ Cussons buys Sabre Group's Fudge hair care brand
LONDON — PZ Cussons, a consumer products group in Europe, Asia and Africa, is expanding its beauty division with the acquisition of the Fudge hair care brand from Australia-based Sabre Group.
The brand and associated inventory are being acquired by PZ Cussons for 25.5 million pounds ($39.5 million). The transaction is expected to close by the end of January, following the satisfaction of certain regulatory obligations.
Fudge will join the portfolio of brands within PZ Cussons Beauty, the group’s recently formed beauty division, which currently comprises St. Tropez, Sanctuary and Charles Worthington.
Established in 1991, Fudge is a hair care brand sold predominantly through salon distribution in the U.K., Australia and New Zealand. It is best known for its styling range, including the “Hair Shaper” product.
“The acquisition of Fudge further strengthens our newly formed beauty division and broadens its category participation. The geographic and distribution footprint of Fudge is a perfect fit with the current brand portfolio, and we see further opportunity to develop the brand's international potential,” stated Alex Kanellis, CEO of PZ Cussons. “Following this acquisition, our balance sheet remains strong, giving us flexibility for further investment opportunities as they arise.”